Xerox Target of Unusually Large Options Trading (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the recipient of unusually large options trading on Wednesday. Traders acquired 1,689 put options on the stock. This represents an increase of 1,369% compared to the typical daily volume of 115 put options.

Hedge Funds Weigh In On Xerox

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Capital Management LLC acquired a new stake in Xerox in the first quarter valued at $8,466,000. Mizuho Markets Americas LLC grew its stake in Xerox by 282.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after buying an additional 261,180 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Xerox during the first quarter worth approximately $4,509,000. Acadian Asset Management LLC acquired a new position in shares of Xerox in the first quarter valued at approximately $4,066,000. Finally, Sound Income Strategies LLC lifted its holdings in Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Citigroup began coverage on Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 price objective for the company. Finally, Loop Capital lowered their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Xerox currently has a consensus rating of “Hold” and an average target price of $12.75.

Xerox Stock Performance

XRX opened at $10.48 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.98 and a beta of 1.57. The business’s 50-day moving average price is $10.40 and its two-hundred day moving average price is $12.40. Xerox has a 1 year low of $9.51 and a 1 year high of $19.78.

Xerox (NYSE:XRX) last released its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Equities analysts expect that Xerox will post 1.79 EPS for the current fiscal year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.54%. Xerox’s dividend payout ratio is -95.24%.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.